2bin, you obviously like to twist things."Directors get 7%" -...

2bin, you obviously like to twist things.
"Directors get 7%" - No, they get options to buy up to 7% of shares on issue after the Mineralogy deal is bedded down at a price that will be about (my guess)11 or 12 cents.
So they will be paying for them.
And, the options are only granted if they meet all the spelt out performance targets and deliver the Balmoral Project over the coming years. That is the deal shareholders overwhemingly approved.

As for the rest of us having 13%, that is irrelevant.

What is relevant is how much capital is attributable to existing shareholders before and after the deal is done.

Last December, before this deal, Sherlock Bay was capitalised about $35m from memeory.
Now as Aust Res capital = $141m @ $0.18 per share.
After the deal is announced/confirmed and allocation of shares to Mineralogy, the capital atrributable to existing shareholders is anyone's guess.
$300m?
$400m?
Long way from from $35m!